Decision No. 56/2000/QD-BTC On Issuing the Financial Management Regulation for Social Funds and Charity Funds

DECISION OF THE MINISTER OF FINANCE

Regarding the issuance of Financial Management Regulations for Social Funds and Charitable Funds

 

THE MINISTER OF FINANCE

Pursuant to Decree No. 15/CP dated March 2, 1993 of the Government stipulating tasks, powers, and responsibilities for state management by Ministries and ministerial-level agencies;

Pursuant to Decree No. 178/CP dated October 28, 1994 of the Government stipulating tasks, powers, and organizational structure of the Ministry of Finance;

Pursuant to Decree No. 177/1999/NĐ-CP dated December 22, 1999 of the Government on the issuance of regulations on organization and operation of social funds and charitable funds;

To strengthen financial management and encourage voluntary contributions from organizations and individuals to social funds and charitable funds;

At the proposal of the Director of the Financial Policy Department and the Head of the Office of the Ministry of Finance;

 

DECISION:

Article 1. Issued herewith is the "Financial Management Regulations for Social Funds and Charitable Funds."

Article 2. This Decision shall take effect fifteen days from the date of signature.

Article 3. The Chairman of the Management Board and the Directors of social funds and charitable funds shall be responsible for implementing this Decision./.

 

FINANCIAL MANAGEMENT REGULATIONS FOR SOCIAL FUNDS AND CHARITABLE FUNDS

(Issued together with Decision No. 56/2000/QĐ-BTC dated April 19, 2000)

 

These regulations apply to the Support Fund for Mobilizing the Overseas Vietnamese Community (hereinafter referred to as the Fund), established and operating under Decision No. 990/QD-TTG dated October 30, 2002 of

Article 1Scope of Application

These regulations apply to social funds and charitable funds (hereinafter referred to as Funds) established and operating in accordance with Decree No. 177/1999/NĐ-CP dated December 22, 1999 of the Government on the issuance of regulations on organization and operation of social funds and charitable funds.

Article 2Principles of Operation

The Funds operate without profit motive, based on self-generated capital through fundraising and voluntary donations from organizations and individuals both within and outside the country, aimed at supporting humanitarian, charitable activities, encouraging cultural, sports, scientific, and social development.

The Funds cover their own costs for social and charitable activities and bear responsibility with their own assets, without state budget funding.

The Funds have legal personality, are permitted to open accounts at banks or State Treasury, and are liable under the law for their operations.

The Funds must publicly disclose information on fund-raising, management, and utilization in accordance with Decision No. 225/1998/QĐ-TTg dated November 20, 1998 of the Prime Minister on the issuance of financial disclosure regulations for state budgets at all levels, budgetary units, state-owned enterprises, and funds with revenue from public contributions, and Circular No. 29/1999/TT-BTC dated March 19, 1999 of the Ministry of Finance guiding the implementation of financial disclosure for funds with revenue from public contributions.

Chapter II. Sources of Revenue, Utilization, and Management of the Fund.

Article 3. The Fund has the following sources of revenue:

Money and assets voluntarily contributed and funded by organizations and individuals both within and outside the country in compliance with legal provisions.

Money and assets of organizations and individuals both within and outside the country authorized to the Fund for specific purposes in line with the Fund's objectives and purposes.

Interest from bank deposit accounts and other lawful revenues (if any).

Article 4. Utilization of the Fund

The Fund may be utilized for the following purposes:

a. Direct financial support, non-recoverable, for activities consistent with the Fund's charter, specifically:

Supporting programs and projects aimed at humanitarian, charitable purposes, encouraging cultural, sports, scientific, and social development.

Supporting organizations and individuals for activities consistent with the Fund's purpose and objectives.

Supporting according to the authorization of organizations and individuals and implementing sponsored projects with specific directions. The Fund is responsible for implementing in accordance with the authorization of sponsoring organizations and individuals and in accordance with the law.

b. Expenditure for Fund management not exceeding 5% of the total revenue of the Fund.

The utilization of the Fund is decided by the Fund Director based on the direction and tasks of the Fund's activities approved by the Management Board. The Fund may not be used for other activities inconsistent with the Fund's objectives and purposes.

Article 5. Contents of expenditure for Fund management include:

Salaries (allowances, subsidies if applicable) for the Fund's management staff.

Rent for office space.

Purchase and repair of fixed assets serving the Fund's activities.

Office supplies.

Payment for public services (electricity, water, fuel, sanitation, environment).

Other expenditures related to the Fund's activities.

The Management Board must issue detailed regulations on management and utilization of the Fund, establish cost standards for the Fund's activities. The total expenditure for Fund management shall not exceed 5% of the Fund's total revenue in a year. In cases where the Fund's revenue decreases significantly in a year, the Management Board decides the minimum level of expenditure for Fund management, but it must ensure that the total expenditure for Fund management over three consecutive years does not exceed 5% of the Fund's total revenue.

Article 6Responsibilities of the Fund in accounting and financial management work:

The Fund must organize accounting and statistical work in accordance with the Accounting and Statistics Ordinance; comply with regulations and provisions on invoices and accounting vouchers.

Maintain complete records and statistics of lists of organizations and individuals contributing, funding, and receiving funding, reflecting all transactions.

Prepare and submit complete and timely annual financial reports and settlement statements to the competent financial authority that permits the establishment of the Fund.

Be subject to inspection and audit regarding the collection, management, and utilization of the Fund by the financial authority responsible for managing the Fund. Provide necessary information to relevant state management agencies when required by law.

The Fund supervisor is responsible for inspecting and supervising the Fund's activities and reporting to the Management Board on the Fund's financial situation.

The Management Board is responsible for managing the Fund's activities, approving financial plans, and auditing the Fund's settlement reports.

The Standing Members of the Management Board and the Fund Director are responsible for publicly disclosing the following contents:

List and amount of contributions and funding from organizations and individuals who have contributed and funded the Fund.

Quarterly financial reports and annual settlement reports of the Fund by revenue categories.

Article 7. Accounting Officer of the Fund.

The person assigned the responsibility of the Fund's Accounting Officer assists the Fund Director in organizing and directing the entire accounting and statistical work of the Fund.

Absolutely no person who has a criminal record, has been disciplined for corruption, violated socialist property, or breached economic and financial management policies shall be appointed as the Accounting Officer of the Fund.

The individual assigned the duty of being the Accounting Officer of the Fund must meet the following criteria:

Possess moral integrity, honesty, and truthfulness.

For Funds established by the Chairman of the People's Committee of provinces or centrally-administered cities, the Accounting Officer must have a university degree in economics or finance, specialized knowledge in accounting, and at least two years of experience in accounting work.

For Funds established by the Chairman of the People's Committee of districts, towns, urban districts, or provincial cities, the Accounting Officer must have specialized training in economics or finance and at least one year of experience in accounting work.

The appointment, dismissal, or transfer of the individual assigned the duty of being the Accounting Officer of the Fund shall be decided by the Management Board of the Fund upon the proposal of the Fund Director. In cases of merger, consolidation, division, separation, dissolution of the Fund, or when the Accounting Officer transfers to another job, they must complete the final accounting before taking on new duties and remain responsible for all accounting data and reports during their tenure until the handover is completed.

Chapter III

Handling assets when the Fund is suspended from operations or merged, consolidated, divided, or separated

Article 8:In the case of the Fund being permitted by the competent state agency to merge, consolidate, divide, or separate, all funds and assets of the Fund must be accurately inventoried promptly before such actions take place. Under no circumstances shall the Fund's assets be distributed.

The total amount of funds and assets of the newly merged or consolidated Fund must equal the combined total of funds and assets of the Funds prior to the merger or consolidation.

The total amount of funds and assets of the newly divided or separated Funds must equal the entire amount of funds and assets of the Fund prior to division or separation.

Article 9: In the case of the Fund being dissolved, under no circumstances shall its assets be distributed. All funds and assets of the Fund must first be used to settle any national debts (if any). After settling the debts and liquidation expenses, the remaining funds must be deposited into the state budget of the level that authorized the establishment of the Fund.

Article 10: In the case of the Fund being suspended from operations, the Fund's assets shall be handled as stipulated for the case of the Fund being dissolved as provided in Article 9 of this Regulation./.